Enhancing Financial Literacy – Experiment Results
DOI:
https://doi.org/10.15678/AOC.2018.1808Keywords:
financial literacy, financial planning, financial education, investment attitudesAbstract
The goal of the paper is to assess whether a short course in financial education has a positive impact on subjective and objective assessments of financial knowledge. We present the results of a financial literacy experiment conducted at the University of Szczecin in 2016. The experiment was the outcome of international cooperation with Italian researchers, which allowed us to compare results obtained in Italy and in Poland. It was conducted with the methodology proposed by the Italian team. The experiment covered three topics: basic interest compounding, inflation and risk diversification.
Based on a sample of university students, we provide evidence that, in Poland too, a small-scale training intervention has both a statistically and economically significant effect on subjective assessments of financial knowledge and on objective assessments of investment attitudes.
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